RATE Group | Key rejection of an important intraday technical zone
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Key rejection of an important intraday technical zone

10 Jan Key rejection of an important intraday technical zone

Posted at 04:50h in Bitcoin News by

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  • Bitcoin has fallen 2.90% after rejecting a key intraday zone.
  • The price bounced off the moving average and trendline.

BTC/USD Hourly Chart

BTC/USD has fallen back below 8K.

The price bounced back off the 55 hourly EMA and also rejected the trendline.

The good news for the bulls is that the price is still above the 200 EMA.

Interestingly, the RSI is in an oversold area so there could be some near term relief.

The next support zone is close to the 7,500 area but there was some brief support at 7,743.50.

Bitcoin Analysis

Additional Levels

 

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